Search / Foreign exchange shortage
Gold deliveries fall by 18% in February
Fidelity Gold Refinery (FGR) has reported an 18.06% decline in gold deliveries, with total deliveries falling to 2,568.2544 kilograms (kgs) last month, compared to 3,134.3456kgs in January. The declin...Published: 07 Mar 2025 at 07:00hrs | 58 | by Staff reporter
Nedbank reaffirms commitment to Zimbabwe as an investment destination
Nedbank Group has reiterated that Zimbabwe remains an attractive destination for foreign direct investment and pledged continued support for key sectors of the economy to drive growth.Dr. Tere...Published: 07 Mar 2025 at 06:55hrs | 110 | by Staff reporter
Is Zimbabwe on the brink of collapse?
Zimbabwe is standing at a dangerous crossroads as the nation endures an escalating energy crisis that threatens its economy, livelihoods, and future prospects. The recent wave of prolonged pow...Published: 18 Dec 2024 at 13:05hrs | 2017 | by Tendai Ruben Mbofana
Zimbabwe's banking sector sees surge in US dollar deposits
Zimbabwe's banking sector has experienced a remarkable increase in confidence, with foreign currency deposits rising by 13% to US$2.64 billion in October 2024, compared to the same period in 2023. Thi...Published: 14 Dec 2024 at 12:35hrs | 2179 | by Staff reporter
Potraz raises red flag over impact of power cuts on telcos
The Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) has expressed serious concerns regarding the ongoing power outages that threaten to disrupt the country's telecommunications...Published: 17 Oct 2024 at 08:58hrs | 89 | by Staff reporter
Mnangagwa challenges miners to embrace innovation
President Emmerson Mnangagwa yesterday urged the mining industry to leverage technology and innovation to enhance operations and productivity. Speaking at the Chamber of Mines Zimbabwe 2024 annual min...Published: 31 May 2024 at 21:17hrs | 3 | by Staff reporter
AfDB to fund a $250 million gold mine in Zimbabwe
THE African Development Bank (AfDB) has shown great interest in funding Caledonia Mining Corporation's planned $250 million gold mine in Zimbabwe.The information was relayed by the company's c...Published: 06 Apr 2024 at 08:16hrs | 5 | by Staff reporter
PPC receives US$11,2 million legacy debt payment from RBZ
CEMENT maker, PPC Zimbabwe, has acknowledged receipt of US$11,2 million from the Reserve Bank of Zimbabwe under the legacy debts repayment facility.The debt accrued as a result of cash flows g...Published: 20 Jul 2021 at 18:47hrs | 5 | by Staff writer
Zimdollar will maintain a 'fragile stability' this year report
ZIMBABWE's currency will maintain a "fragile stability" this year, continuing from the volatilities that haunted the domestic unit even after the introduction of theforeign currency auction system...Published: 17 Feb 2021 at 06:11hrs | | by Staff reporter
Firms hail forex auction system
ZIMBABWE'S biggest companies have hailed central bank governor, John Mangudya's foreign currency auction system for defusing a forex crisis that had affected production in the past year.The Re...Published: 20 Nov 2020 at 06:08hrs | | by Staff reporter
Zimbabwe looks underground for golden economic revival
REELING from decades of economic mismanagement, Zimbabwe is banking on gold to shore up revenue and tackle the upshots of rampant hyperinflation, corruption and coronavirus restrictions.Global...Published: 16 Nov 2020 at 05:48hrs | 1 | by Staff reporter
Zimbabweans bracing for fresh unrest as Chamisa plan protests
Zimbabweans are bracing for fresh unrest after the main opposition party unveiled plans for a series of major rallies starting this week and unions called for strike action.Any demonstrations ...Published: 14 Aug 2019 at 17:06hrs | | by The Guardian
Power blackouts force Zimbabwe firms to shut down
Zimbabwe's economy could grind to a halt if power outages gripping the nation persist as production plunges, exports decline, companies lay off staff and disposable incomes shrink, after it emerged th...Published: 19 Jul 2019 at 07:57hrs | 3 | by Staff reporter
Zimbabwe grapples with US$85m SAA debt
ZIMBABWE owes South African Airways (SAA) over US$85 million (R1,1 billion) in unrepatriated revenue from ticket sales as the country continues to grapple with biting foreign currency shortages amid g...Published: 19 Jul 2019 at 07:49hrs | 1 | by Staff reporter
Zimbabwe in austerity-induced recession
"OUTPUT in Zimbabwe is expected to contract in 2019 with a sharp rise in inflation reducing real incomes and foreign exchange shortages constraining activity," the World Bank reports in its Global Eco...Published: 14 Jun 2019 at 08:22hrs | 8 | by Tinashe Kaduwo
Prices of goods continue to go up
Prices of mostly basic commodities have significantly gone up over the past month, with analysts blaming it on exchange rate developments. A survey by the Daily News yesterday showed that prices of ba...Published: 28 Mar 2019 at 12:55hrs | | by Staff reporter
'RTGS$ a failed fraud' Tendai Biti says
Former Finance Minister Tendai Biti says the recently introduced RTGS$ currency has failed to maintain a steady exchange rate thereby affecting people's savings. "The RTGS$ is a failed fraud. ...Published: 26 Mar 2019 at 06:56hrs | 3 | by Mandla Ndlovu
Can Zimbabwe learn from history, the pain of yesteryear?
CENTRAL bank opens up currency trading, reads a headline in a State-owned daily newspaper. The Reserve Bank of Zimbabwe (RBZ) has liberalised the foreign currency market by introducing an interbank tr...Published: 23 Feb 2019 at 06:24hrs | | by Editorial - newsday
Mthuli Ncube pledges to tackle capital flight
FINANCE minister Mthuli Ncube on Monday pledged to support food and beverage manufacturer, Nestle Private Limited, as government desperately tries to contain capital flight.A large number of c...Published: 13 Feb 2019 at 08:40hrs | 7 | by Staff reporter
Re-dollarisation of economy: Wrong turn for Zimbabwe
There is an effervescence in the economy – an imperceptible but definite shift towards re- dollarisation of the economy.Initially a trickle, this will soon turn into a mighty tide in one dir...Published: 30 Dec 2018 at 10:06hrs | 1 | by Joseph Mverecha
Captured Joram Gumbo defends Queen Bee
GOVERNMENT has de-regulated the importation of fuel and reports of the existence of a monopoly or cartel are baseless and without foundation, Energy and Power Development Minister Dr Joram Gumbo has s...Published: 31 Oct 2018 at 05:24hrs | 1 | by Staff reporter
Zimbabwe deregulates fuel imports
Government has deregulated the importation of fuel and reports of the existence of a monopoly or cartel are baseless, Energy and Power Development Minister Dr Joram Gumbo has said. He said the...Published: 31 Oct 2018 at 05:17hrs | | by Staff reporter
Origins of the Zimbabwe crisis
This article was first published by hsf.org.za.Zimbabwe is experiencing a cumulative breakdown. Living standards, life expectancy and production have plummeted while political oppression h...Published: 27 Oct 2018 at 09:11hrs | 3 | by Teddy Brett and Simon Winter
National wisdom, honest optimism can rescue Zimbabwe
FELLOW Zimbabweans, it is almost November again. Are you getting this novemberish sense of déjà vu? Remember November 2017? It was the best of times and the worst of times.This November, pro...Published: 19 Oct 2018 at 08:45hrs | 3 | by Brian Kagoro
Mnangagwa secures U.S. credit to address foreign exchange shortage
PRESIDENT Mnangagwa has promised Zimbabwe that his accelerated reform plans to tackle the numerous challenges facing the economy and that he can depend upon U.S. dollar to help him achieve that. The m...Published: 27 Sep 2018 at 15:59hrs | | by Agencies
Chamisa poll dispute pushes up forex rates
Economists expect real-time gross settlement (RTGS) and EcoCash transfers to initially gain against the United States dollar for a while once the dispute over election results is finalised, before slu...Published: 19 Aug 2018 at 06:50hrs | 1 | by Staff reporter
Zimbabwe braces for price increases, shortages
As the country hurtles towards the watershed national elections, struggling companies are warning of steep price increases and debilitating shortages of basic goods due to Zimbabwe's worsening foreign...Published: 14 May 2018 at 07:51hrs | | by Staff reporter
Mangudya in bid to woo investment
CENTRAL bank chief John Mangudya this week left interest rates unchanged but moved to mop up excess liquidity in the market through the issuance of government paper through open market operations to s...Published: 10 Feb 2018 at 09:52hrs | | by Staff reporter
Mnangagwa calls for crisis meeting over prices
President Emmerson Mnangagwa has called for a crisis meeting with business leaders to try and find a solution to high prices placed on basic commodities which have triggered an outcry from long-suffer...Published: 29 Dec 2017 at 20:32hrs | | by Staff Reporter
Bond notes have driven away good money from the formal market
A WEAK currency is the sign of a weak economy, and a weak economy leads to a weak nation, American business magnate Ross Perot once said.Zimbabwean depositors have watched helplessly as their ...Published: 29 Nov 2017 at 05:14hrs | 1 | by Staff reporter
Mugabexit wipes $6 billion off ZSE
THE Zimbabwe Stock Exchange (ZSE) has lost nearly $6 billion since a military operation that forced former President Robert Mugabe to resign on Tuesday, with analysts saying investors were responding ...Published: 23 Nov 2017 at 07:02hrs | | by Staff reporter
Zimbabwe budget deficit to rise to $1.82 billion
Zimbabwe's budget deficit will soar to $1.82 billion or 11.2 percent of GDP this year from an initial target of $400 million, new Finance Minister Ignatius Chombo told parliament on Thursday.P...Published: 09 Nov 2017 at 11:51hrs | | by Reuters
Hyperinflation threat returns to Zimbabwe
Less than a decade after hyperinflation obliterated Zimbabwe's dollar along with its pensions and savings, the southern African nation is suffering a return to precipitous price rises.Zimbabwe...Published: 29 Oct 2017 at 14:27hrs | 2 | by Staff reporter
Zimbabwe industry cuts working hours
Zimbabwe's manufacturers have been squeezed harder by the deteriorating economy, with the sector retrenching and cutting working hours on the back of decreased capacity utilisation, the latest Confede...Published: 26 Oct 2017 at 13:51hrs | | by Staff reporter
Mugabe watches as Grace's dirty laundry aired in public
PRESIDENT Robert Mugabe has been married to his wife Grace for more than 20 years, but the last few months may well have been the most trying period of their union yet.Firstly, Grace undermine...Published: 06 Oct 2017 at 06:49hrs | | by Newsweek
Bulawayo tops satellite TV viewership
BULAWAYO metropolitan province is leading in terms of satellite television viewership in the country.This is according to the latest Zimbabwe All Media Products Survey (Zamps) for the first ha...Published: 28 Aug 2017 at 12:31hrs | 15 | by Staff reporter
Zimbabwe risks being blocked from importing electricity
ZIMBABWE risks being blocked from importing electricity as Zesa Holdings owes regional utilities about $77 million, which may lead to load shedding.The power utility relies on imports to a...Published: 31 Mar 2017 at 06:26hrs | | by Staff reporter
EU renews sanctions on his Mugabe birthday!
PRESIDENT Robert Mugabe celebrated his 93rd birthday yesterday, and the European Union knew just the gift for the occasion: a renewal of sanctions on the strongman leader.The Council of th...Published: 22 Feb 2017 at 05:49hrs | | by Newsweek
Forex shortage threatens Zimbabwe's bond, dollar parity
The shortage of foreign currency is threatening the parity between the United States dollar and the Zimbabwean bond note and there are fears the shortage could resurrect the US$ black market as compan...Published: 05 Feb 2017 at 07:59hrs | | by Ndamu sandu
Car dealers in foreign currency challenges
PERSISTENT foreign exchange shortages have hit car dealers who fear disruption of their business as their stocks are running out.General manager at AutoWorld, Mr Mike Batch said the shorta...Published: 30 Jan 2017 at 05:26hrs | | by Staff reporter
Attempt to kill Malawi President Joyce Banda revealed
Johannesburg - Malawi President Joyce Banda said in an interview with a newspaper on Sunday that an attempt was made to kill her in 2010 during her tenure as vice president when she opposed ex-le...Published: 12 Aug 2012 at 17:56hrs | | by Staff reporter
Zimbabwe has produced 12 tonnes of Gold since January
Zimbabwe's upward gold production has met requirements for re-admission into the London Bullion Market Association (LBMA) that suspended the country in 2008 following a huge drop in gold output....Published: 15 Sep 2011 at 15:19hrs | | by Staff reporter
Malawi tightened security in main cities in case of anti-government protests
BLANTYRE — Malawian police tightened security in main cities on Wednesday in case of anti-government protests even though organisers had a day earlier postponed the vigils after dead...Published: 17 Aug 2011 at 13:14hrs | | by AFP
Massive mining output increase for Zimbabwe
After a decade of decline, Zimbabwe’s mining industry output increased by 47.0 percent in 2010 finds Frost & Sullivan after recent analysis.Key con...Published: 11 Apr 2011 at 08:29hrs | | by Byo24News
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